Southwood Terrace Subdivision has formed a neighborhood group. Volunteers from this neighborhood are organizing property owner information to submit to O&G companies.

We expect it will cost property owners approximate $200 for legal/consulting/negotiating/services fee per property only if a lease is signed (fee is due when sign-on-bonus is received).

We have an "Intent to sign a lease" form available if anyone in this area is interested in joining.

Signing this document is nonbinding. It is only an intent to sign a mutually acceptable lease. This provides leverage for negotiating with the gas companies.

Any questions can be sent to southwoodterrace@yahoo.com

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Replies to This Discussion

Jennifer, We would like to be included in this. I will try to pick one up Friday. I don't think we will make the meeting Sat, due to prior commitments. Please let me know if there is anything that we need to do to help. Kim and Tom. 111101 Woodmere.
The potluck meeting Saturday is basically to inform everyone of what we are doing and to let people sign up. I will be home Friday after 5:30 and you are welcome to stop by. I'm at 11121 Woodmere.
Jennifer,

What's the status of our group's negotiations? We missed the PotLuck on Sat. What happens next? What can I do to help? How do we sign up? Thanks, K. Rimmer
Right now we have 47% of the neighborhood signed up. We are aiming for 90% before we contact any O&G compaines. If Kevin did not leave you a nonbinding intent to sign form let me know. If he did, just fill out the info and leave it in one of our mailboxes if we aren't home.
JENNIFER,
HOW MUCH PER ACRE ARE YOU ALL WANTING AND HOW MANY ACRES DOES YOUR GROUP HAVE?
Our subdivision is aproximately 30 acres. We currently have close to half signed up. We are asking $200 per lease signed on property. It is possible that it could be less. We aren't sure how much is will cost for legal fees etc. We will only ask to be paid if we successfully get leases for our group since we are volunteering and paying for expenses ourselves as we go.
How much are you planning on asking the O&G companies? I am hearing so many different figures from other areas.
We are not sure yet. We plan to contact several and see what offers we get.
Hate to bust your bubble, but all that land around that interesection is in a producing unit, and not leasable. The producing well is operated by J-W, and is on the East side of Red River. The unit includes land all the way up to University school, goes East across the Red River. The unit is a Voluntary Unit and encompasses more than 600 acres. I would not waste any more time in your group because you are already leased. Sorry.
Thanks for the info. Actually there is a portion of our neighborhood that is not under lease. Not sure why it was excluded from the Webb well, but it was.

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